India Custom Duty, Import Duty and Import Tariffs from Chapter 1 to 98 after GST

Custom Duty is a duty levied on importation of goods into India and exportation of goods out of India. A certain rate of customs tariff is levied on products that are imported into & exported from India. There are two types of custom duty in India, namely Import Duty and Export Tax. Import duty is levied on goods that are imported by India from other countries. And export tax is levied occasionally on goods that are supplied by India into other countries in order to check excess profitability in global prices of commodities in respect of which domestic prices may be low at the given time.

Under GST regime, there are two main import duties – Basic Custom Duty (BCD) and Integrated Goods and Services Tax (IGST). However, additional import duties like Compensation Cess, Safeguard Duty and Anti-Dumping Duty are levied on some goods. Let’s understand them one by one:

• Basic Custom Duty :
  BCD is a specific type of import duty, which is levied on value of goods imported into India from other countries. It is charged as usual after GST.

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• Integrated Goods and Services Tax :
  IGST is a new type of tax under GST regime, which is levied on goods imported into India from other countries. Basically, the tax is collected when goods

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• Compensation Cess :
  Compensation Cess is levied on certain goods such as pan-masala, cigarettes, etc. in order to provide compensation to the states for loss of revenue due to implementation of Goods and Services Tax (GST).

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• Safeguard Duty :
  Safeguard Duty is other type of custom duty, which is levied on goods when sudden rise in imports of any product has caused serious problem to the domestic industries.

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• Anti-Dumping Duty :
  Anti-dumping duty is a tariff, levied by government on goods that are believed to be dumped in national market. Basically, dumping is a process where a company exports a commodity at a price lower than the price it normally charges on its own home market.

Import Duty in India after GST is calculated on the basis of Basic Custom Duty (BCD), Integrated Goods and Services Tax and other applicable taxes such as Compensation Cess, etc. Following examples show how import duty on products is calculated with the help of import duty calculator: